Explorer

Petrol And Diesel Prices Shoot Up For The Third Consecutive Day

Petrol and diesel prices have increased for the third consecutive day by oil marketing companies.

New Delhi: For the third consecutive day, petrol and diesel prices have been increased by oil marketing PSUs (Public sector undertaking). According to a report by ANI, on Tuesday the petrol prices in Delhi were increased by 54 paise and stood at Rs 73.00 per litre. Whereas diesel prices increased by 58 paise to Rs 71.17 per litre. Also Read| World Bank Predicts Worst Recession Since World War II, Global Economy To Shrink By 5.2% In Mumbai, the price of petrol saw a rise of 52 paise and is now Rs 80.01 per litre. While diesel prices have reached 69.92 per litre an increase of 55 paise. Last month the central government had raised the excise duty of petrol by Rs 10 per litre and diesel by Rs 13 per litre. But the companies had said that this increase will not be passed on to the customer. According to an IANS report, the revision of the prices falls under the dynamic pricing system of transportation fuel which the oil marketing companies resumed after 83 days break during the lockdown period. On Monday the price of petrol and diesel was hiked by 60 paise per litre and it was the second hike in the fuel prices in order to tackle the rise in global product prices. In the capital city, the retail price of both petrol and diesel was increased by 60 paise rise to Rs 72.46 and Rs 70.59 per litre respectively. The report said that the last time the fuel prices saw a revision under the dynamic pricing policy was on March 16. Few states hiked VAT or cess in an attempt to increase revenue during the nationwide lockdown. The IANS report also said that the gap between cost and sale price of petrol and diesel for OMCs has reached around Rs 4-5 per litre. As there is no further increase in global fuel prices, there might be an increase of 40-60 paise per day for a couple of weeks to cover the losses. The prices in daily revision depend on the global oil prices at the time. Going by the current trend, crude prices are way above price levels in April when even benchmark Brent crude had slipped below $20 a barrel. Brent is now trading at over $41 a barrel. Also watch| Rare that asymptomatic patients actually transmit the virus: WHO
View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

Israel Confirms It Killed Hamas Leader Haniyeh In Iran
Israel Confirms It Killed Hamas Leader Haniyeh In Iran
Delhi Confirms Receiving Diplomatic Note From Dhaka Over Ex-PM Sheikh Hasina's Extradition
Delhi Confirms Receiving Diplomatic Note From Dhaka Over Ex-PM Sheikh Hasina's Extradition
Legendary Filmmaker Shyam Benegal Passes Away At 90
Legendary Filmmaker Shyam Benegal Passes Away At 90
Fire Breaks Out In Singer Shaan's Residential Building In Mumbai — Watch
Fire Breaks Out In Singer Shaan's Residential Building In Mumbai
Advertisement
ABP Premium

Videos

Sambhal News: Two New Corridors Found in Ancient Stepwell Excavation in ChandausiLucknow Police Encounters Robbers, Arrests Trio Involved in Bank Heist, One InjuredSambhal Stepwell Excavation: Truth to be Revealed, Major Discoveries Await - ABP NewsProtests Outside Allu Arjun's House Over 'Pushpa 2' Stampede Incident, Accused Granted Bail

Photo Gallery

Embed widget